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Under Article 108 of the Basic Law of Hong Kong, the taxation system in Hong Kong is independent of, and different from, the taxation system in mainland China. In addition, under Article 106 of the Hong Kong Basic Law, Hong Kong has independent public finance, and no tax revenue is handed over to the Central Government in China. [1]
The IRD is responsible for the administration of the following Hong Kong ordinances on taxes and duties and the related rules and regulations: Betting Duty Ordinance Cap.108; Business Registration Ordinance Cap.310; Estate Duty Ordinance Cap.111; Hotel Accommodation Tax Ordinance Cap.348; Inland Revenue Ordinance Cap.112; Stamp Duty Ordinance ...
The Government argued that Hong Kong's tax base was narrow; thus, a single-rate GST was a viable option for Hong Kong in order to broaden the tax base and secure the sustainability of tax revenues base and the capacity to meet public expenditure needs in the long run.
The Hong Kong Customs and Excise Department [1] (C&ED; commonly known as the Hong Kong Customs) is the customs service of the Hong Kong Special Administrative Region. The agency was established to protect Hong Kong from smuggling, ensure the collection of duties on taxable goods, detect and prevent drug trafficking and abuse, safeguard ...
Within market economies, taxation is considered the most viable option to operate the government (instead of widespread state ownership of the means of production), as taxation enables the government to generate revenue without heavily interfering with the market and private businesses; taxation preserves the efficiency and productivity of the ...
The Financial Services and the Treasury Bureau (FSTB) is a part of the 15 policy bureaux for the Hong Kong Special Administrative Region. They are responsible for developing and executing government policy on finance and treasury .
The Government of the Hong Kong Special Administrative Region [1] (commonly known as the Hong Kong Government or HKSAR Government) is the executive authorities of Hong Kong. It was established on 1 July 1997, following the handover of Hong Kong .
Hong Kong–United States relations; Hong Kong–Philippines relations; Hong Kong–Singapore relations; Hong Kong–China relations. Hong Kong Liaison Office; Office of the Government of the HKSAR in Beijing; Mainland and Hong Kong Closer Economic Partnership Arrangement; Hong Kong–Taiwan relations. Hong Kong Economic, Trade and Cultural Office